Singapore banks lead market surge again on easing Middle East tensions

$FTSE Singapore Straits Time Index(.STI.SG)$ rose 1 per cent or 32.9 points to 3,258.07 as at 9.02 am. Across the broader market, gainers outnumbered losers 113 to 26 after 76.6 million securities worth S$103.2 million changed hands.

The most active counter by volume was $Seatrium(S51.SG)$ , which held steady at S$0.083 with 25 million shares changing hands, followed by $ThaiBev(Y92.SG)$ trading flat at S$0.48 with 6.7 million shares transacted. $CapLand IntCom T(C38U.SG)$ was also briskly traded, up 1.1 per cent or S$0.02 to S$1.89 with 3.9 million shares changing hands.

US indices closed Monday higher amid investors’ relief as the tensions in the Middle East did not escalate. $Dow Jones Industrial Average(.DJI.US)$ finished up 0.7 per cent at 38,239.98.The broad-based $S&P 500 Index(.SPX.US)$ gained 0.9 per cent to 5,010.60, while the tech-rich $Nasdaq Composite Index(.IXIC.US)$ jumped 1.1 per cent to 15,451.31.